VH Consult: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VH Consult
Largest movements
- Financial fixed assets +€375,001
new in 2025: €375,001
- Receivables within one year -€129,081
down €129,081 (-58.9%), from €219,010 to €89,929
of which Other amounts receivable: -€80,096
- Tangible fixed assets +€23,220
new in 2025: €23,220
- Cash -€8,898
down €8,898 (-29.7%), from €29,987 to €21,089
mainly Investment in fixed assets (net) (-€403,731) and Other debts (-€8,532)
- Debts after one year +€205,276
new in 2025: €205,276
- Current portion of long-term debt +€47,387
new in 2025: €47,387
- Tax, wage and social debts +€11,193
new in 2025: €11,193
- Other debts -€8,532
down €8,532 (-24.3%), from €35,068 to €26,536
- Gross operating margin -€41,696
down €41,696 (-56.6%), from €73,714 to €32,018
- Financial charges +€15,449
up €15,449 (+4,865%), from €318 to €15,767
- Depreciation +€5,510
new in 2025: €5,510
- Other operating charges +€4,563
up €4,563 (+501%), from €910 to €5,473
- Taxes +€2,623
new in 2025: €2,623
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €248,997 | €509,239 | +€260,242 | +105% |
| Fixed assets | 21/28 | - | €398,221 | +€398,221 | |
| Tangible fixed assets | 22/27 | - | €23,220 | +€23,220 | |
| Furniture and vehicles | 24 | - | €23,220 | +€23,220 | |
| Financial fixed assets | 28 | - | €375,001 | +€375,001 | |
| Current assets | 29/58 | €248,997 | €111,018 | -€137,979 | -55.4% |
| Amounts receivable within one year | 40/41 | €219,010 | €89,929 | -€129,081 | -58.9% |
| Trade receivables | 40 | €135,000 | €86,015 | -€48,985 | -36.3% |
| Other amounts receivable | 41 | €84,010 | €3,914 | -€80,096 | -95.3% |
| Cash at bank and in hand | 54/58 | €29,987 | €21,089 | -€8,898 | -29.7% |
| Total equity and liabilities | 10/49 | €248,997 | €509,239 | +€260,242 | +105% |
| Equity | 10/15 | €132,198 | €134,843 | +€2,645 | +2.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €293,023 | €293,023 | = | 0.0% |
| Tax-exempt reserves | 132 | €243,935 | €243,935 | = | 0.0% |
| Distributable reserves | 133 | €49,088 | €49,088 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€167,024 | -€164,379 | +€2,645 | +1.6% |
| Provisions and deferred taxes | 16 | €81,312 | €81,312 | = | 0.0% |
| Deferred taxes | 168 | €81,312 | €81,312 | = | 0.0% |
| Amounts payable | 17/49 | €35,487 | €293,084 | +€257,597 | +726% |
| Amounts payable after more than one year | 17 | - | €205,276 | +€205,276 | |
| Financial debts | 170/4 | - | €205,276 | +€205,276 | |
| Amounts payable within one year | 42/48 | €35,487 | €87,808 | +€52,321 | +147% |
| Current portion of amounts payable after more than one year | 42 | - | €47,387 | +€47,387 | |
| Trade debts | 44 | €419 | €2,692 | +€2,273 | +542% |
| Suppliers | 440/4 | €419 | €2,692 | +€2,273 | +542% |
| Taxes, remuneration and social security | 45 | - | €11,193 | +€11,193 | |
| Taxes | 450/3 | - | €11,193 | +€11,193 | |
| Other amounts payable | 47/48 | €35,068 | €26,536 | -€8,532 | -24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,510 | +€5,510 | |
| Other operating charges | 640/8 | €910 | €5,473 | +€4,563 | +501% |
| Gross operating margin | 9900 | €73,714 | €32,018 | -€41,696 | -56.6% |
| Operating profit (loss) | 9901 | €72,804 | €21,035 | -€51,769 | -71.1% |
| Financial income | 75/76B | €13 | €0 | -€13 | -100% |
| Recurring financial income | 75 | €13 | €0 | -€13 | -100% |
| Financial charges | 65/66B | €318 | €15,767 | +€15,449 | +4,865% |
| Recurring financial charges | 65 | €318 | €15,767 | +€15,449 | +4,865% |
| Profit (loss) for the period before taxes | 9903 | €72,499 | €5,268 | -€67,231 | -92.7% |
| Income taxes | 67/77 | - | €2,623 | +€2,623 | |
| Profit (loss) for the period | 9904 | €72,499 | €2,645 | -€69,854 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,499 | €2,645 | -€69,854 | -96.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.